BlackSky Technology (NYSE:BKSY) Shares Up 12.6% - Should You Buy?

Key Points

• Shares jumped 12.6% intraday to about $28 on Wednesday, though trading was thin (~345,000 shares vs. a 1.5M average) and the stock sits above its 50- and 200-day moving averages.
• Wall Street is mixed but leans positive: the consensus rating is "Moderate Buy" (five Buys, one Sell) with an average price target of $27.40 and individual targets ranging roughly $23–$42.
• The company beat EPS for the quarter (‑$0.19 vs. ‑$0.25 est.) but missed revenue, remains unprofitable with a negative net margin and ROE, has a market cap of about $1.06B, and is forecast to report ~‑2.28 EPS for the year.

Shares of BlackSky Technology Inc. (NYSE:BKSY - Get Free Report) rose 12.6% during trading on Wednesday . The stock traded as high as $27.70 and last traded at $28.3340. Approximately 345,024 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,500,110 shares. The stock had previously closed at $25.16.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BKSY shares. Jefferies Financial Group began coverage on shares of BlackSky Technology in a research report on Monday, December 22nd. They set a "buy" rating and a $23.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th. Canaccord Genuity Group dropped their target price on shares of BlackSky Technology from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Wall Street Zen upgraded BlackSky Technology from a "strong sell" rating to a "hold" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BlackSky Technology in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.40.

BlackSky Technology Stock Performance

The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.37 and a current ratio of 3.48. The company has a market cap of $1.06 billion, a PE ratio of -13.43 and a beta of 2.44. The company's 50 day moving average price is $23.46 and its 200-day moving average price is $21.90.

BlackSky Technology (NYSE:BKSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. BlackSky Technology had a negative return on equity of 53.94% and a negative net margin of 65.93%.The business had revenue of $35.21 million for the quarter, compared to the consensus estimate of $37.13 million. Equities research analysts anticipate that BlackSky Technology Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. boosted its position in BlackSky Technology by 1.6% during the third quarter. Griffin Asset Management Inc. now owns 48,856 shares of the company's stock worth $984,000 after purchasing an additional 746 shares during the period. Arax Advisory Partners raised its position in shares of BlackSky Technology by 15.2% in the fourth quarter. Arax Advisory Partners now owns 5,985 shares of the company's stock valued at $112,000 after purchasing an additional 791 shares during the period. IFP Advisors Inc lifted its stake in shares of BlackSky Technology by 57.9% during the 3rd quarter. IFP Advisors Inc now owns 2,253 shares of the company's stock valued at $45,000 after buying an additional 826 shares in the last quarter. Legal & General Group Plc boosted its holdings in BlackSky Technology by 40.5% in the 2nd quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after buying an additional 899 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in BlackSky Technology by 5.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,042 shares of the company's stock worth $384,000 after buying an additional 1,010 shares during the period. 27.15% of the stock is currently owned by institutional investors.

About BlackSky Technology

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.

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